Flow Cytometry Market size is forecast to reach $6.71 billion by 2025, and growing at a CAGR of 8.47% during the forecast period 2020-2025. Flow cytometry is technique used to detect and measure physical and chemical characteristics of a population of cells or particles. In this process, a sample containing cells or particles is suspended in a fluid and injected into the flow cytometer instrument. The increasing use of flow cytometry in research activities and clinical trials, growing focus on immunology and immune oncology research are set to grow the demand for flow cytometry during the forecast period 2020-2025.
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Technology- Segment Analysis
Based on Technology Flow Cytometry market is segmented into Cell- based flow cytometry and Bead- based flow cytometry. Bead based cytometry is estimated to be the fastest growing technology with CAGR of 7.31% during the forecast period 2020-2025. This is owing to constant advancement in molecular engineering, monoclonal antibodies protection, and associated advantages such as cost efficiency and short Turnaround time(short- TAT). Also, with the procedural advantages such as ELSIE or western blot the demand for Bead based is increasing during the forecast period 2020-2025.
Application- Segment Analysis
Based on Applications, Flow Cytometry can be segmented into Research Applications, Clinical Applications, and Industrial Applications. Research Applications accounted for largest share owing to initiatives taken by governments and companies for increasing the adoption of flow cytometry for research activities as well as increasing research in infectious diseases. With an increasing development of new drugs and rise of research and development in companies the research application is also set to register highest CAGR during forecast period 2020-2025
Geography- Segment Analysis
Based on Geography, Flow cytometry market is segmented into North America, Europe, Asia Pacific, and Rest of the World. In 2019, North America accounted for the largest share with 39.8% of overall market. This is owing to rise in expansion of novel product that in turn is to create opportunities during the forecast period 2020-2025. In U.S, the increase in number of cancers cases is thus creating demand of Flow Cytometry Market. Asia Pacific is set to register highest CAGR during the forecast period 2020-2025 owing to outsourcing R&D activities in this region and increasing incidences of diseases such as Cancer and HIV.
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Drivers – Flow Cytometry Market
Flow cytometry is considered as ideal tool for characterizing, identifying and isolate stem cells for research and potential clinical use. Recent advancement in flow cytometric hardware, reagents and software have synergized to permit the stem cell biologist to more fully identify and isolate rare cells. With such extensive use of flow cytometry for effective diagnosis and early detection of diseases the adoption in stem cell research is driving the growth of Flow cytometry Market during the forecast period 2020-2025.
Challenges – Flow Cytometry Market
The challenges such as high cost is poised to create for the market growth of Flow cytometry equipment. Small-size high-throughput cytometers are set to gain popularity over the coming years owing to associated benefits such as ease in use and cost-effectiveness. Furthermore, improvement in fluorescent dyes and introduction of bench top cytometers are the other growth challenges.
Flow Cytometry Industry Outlook
Product launches, mergers and acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Flow Cytometry market. In 2019, Flow Cytometry Market share is consolidated by the top ten players present in the market. Flow Cytometry, top 10 companies are Bio-Rad Laboratories, Inc., Miltenyi Biotec Sysmex Partec GmbH, BIOMÉRIEUX, Mechatronics, Apogee Flow Systems Ltd., Stratedigm, Inc., Sony Biotechnology Inc., BD., Thermo Fisher Scientific Inc., Merck KGaA, Aglient Technologies among others.
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